Multi-Pronged Risk Management and Protection Philosophy
Analysis of change in IEV1
10
Pre-EMR1
EVOP: 10.3
EVOP2% 16.5%
5.5
266.2
4.1
0.7
5.5
1.8
0.5
Unwind
VNB
Operating
variances³
Excess mortality
Economic
variances
ESOP
exercises
reserve
176.3
89.8
IEV at Mar 31, 2021
Post-EMR
EVOP1% 14.4%
Adjusted Net worth (ANW)
Value of in-force business (VIF)
Excess claims received in Q1 FY22 absorbed by the reserve created at the start of the financial year
Additional reserve of Rs 7 bn created for expected claims intimation
1.
EMR: Excess mortality reserve
2.
EVOP% calculated as annualised EVOP (Embedded Value Operating Profit) to Opening EV
3. Mortality variance: 0.03, Persistency variance: 0.5, Expenses and Others: 0.2
273.3
183.4
89.9
Rs bn
IEV at Jun 30, 2021
growth
Profitable
distribution mix
Diversified
leading
Market-
insurance
Reimagining
Quality of
innovation
management
Board and
HDFC
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